Healthcare no longer starts at the hospital — it starts in the lab. From blood analysis and genetic testing to AI-driven diagnostics and remote sample collection, the medical testing industry is transforming fast. What used to take days now happens in hours; what required a visit can now be done from home.
Investors have noticed. Global medical and diagnostic lab startups have collectively raised over $4 billion since 2023, driven by precision medicine, early detection, and preventive health. These ten companies are the frontrunners shaping how healthcare diagnoses and decisions will look in the next decade.
1. Freenome (USA) – “Blood tests that spot cancer before it strikes”
What they do: Freenome develops multi-omics blood tests that detect early-stage cancers through advanced AI and genomic analysis.
Founders: Gabe Otte, Riley Ennis, Michael Otte, and Imran Haque.
Funding & Investors: Over $800 million raised from Andreessen Horowitz, GV (Google Ventures), Roche Ventures, and Polaris Partners.
Why they stand out: Their flagship test for colorectal cancer has shown promising clinical results, potentially making routine early cancer screening as simple as a blood draw.
Next moves: Preparing for FDA submission, expanding into lung and pancreatic cancer detection.
2. Karius (USA) – “Infectious disease detection from a single drop of blood”
What they do: Uses genomic sequencing to identify over 1,000 pathogens from cell-free DNA in a blood sample.
Founders: Dr. Tim Blauwkamp, Dr. Sivan Berenbaum, Dr. Pieter de Boer, and Dr. Ephraim Tsalik.
Funding & Investors: $265 million raised; key backers include SoftBank Vision Fund 2 and Khosla Ventures.
Why they stand out: Real-time infection detection that eliminates the need for culture tests — vital for critical-care and immunocompromised patients.
Next moves: Expanding diagnostics for sepsis and transplant monitoring, aiming for hospital-wide adoption.
3. Prenuvo (USA/Canada) – “Full-body MRI for early disease detection”
What they do: Offers advanced MRI scans that detect cancers, aneurysms, and organ irregularities before symptoms appear.
Founder: Andrew Lacy.
Funding & Investors: $70 million Series A led by Felicis Ventures and Steel Perlot; supported by celebrity investors like Cindy Crawford.
Why they stand out: Combines deep-tech imaging with personalized risk reporting, merging diagnostics and wellness.
Next moves: Expanding clinics in Europe and the Middle East; integrating AI-powered report analysis.
4. Neko Health (Sweden/Europe) – “Preventive diagnostics for everyone”
What they do: Founded by Spotify’s Daniel Ek, Neko offers a non-invasive, full-body health scan combining imaging, AI, and blood markers to assess risks early.
Founders: Daniel Ek and Hjalmar Nilsonne.
Funding & Investors: $260 million Series B led by Lightspeed Venture Partners and General Catalyst.
Why they stand out: Waiting lists are thousands long — proof of demand for personalized, data-driven diagnostics.
Next moves: Rolling out across Europe and launching U.S. clinics in 2025.
5. Tricog Health (India) – “AI-enabled cardiac diagnostics at the point of care”
What they do: Real-time ECG interpretation and cardiac diagnostics for hospitals and clinics, powered by AI.
Founders: Dr. Charit Bhograj, Zainul Charbiwala, and Udayan Dasgupta.
Funding & Investors: $50 million+ raised from UTEC Japan, Inventus Capital, and TeamFund.
Why they stand out: Already operating in India, Indonesia & Africa, providing AI diagnosis in under 10 minutes.
Next moves: Expanding diagnostic coverage to arrhythmias, heart failure, and tele-cardiology networks.
6. Healthians (India) – “India’s largest diagnostics network built on data”
What they do: At-home testing and diagnostics service offering 250+ tests, integrated with AI-based quality monitoring.
Founder: Deepak Sahni.
Funding & Investors: $60 million raised from WestBridge Capital and Trifecta.
Why they stand out: 30 cities, 200+ labs, 1 million+ monthly samples — one of the most extensive Indian diagnostic infrastructures.
Next moves: Expanding preventive testing programs and lab automation for smaller cities.
7. Grail (USA) – “Multi-cancer detection from a single blood test”
What they do: Offers Galleri™, a blood test that screens for 50+ types of cancer using DNA methylation patterns.
Founders: Founded in Illumina’s R&D lab by Jeff Huber.
Funding & Investors: Acquired by Illumina for $8 billion (under regulatory review); backed by Jeff Bezos and Bill Gates.
Why they stand out: Perhaps the most ambitious effort to redefine cancer screening as a preventive routine.
Next moves: Expanding Galleri to Europe and Asia, integrating into annual check-ups via health systems.
8. Qure.ai (India) – “AI that reads medical scans like a radiologist”
What they do: Uses AI to interpret X-rays, CT scans, and MRIs in seconds, helping clinicians detect tuberculosis, lung lesions, and brain injuries.
Founder: Prashant Warier.
Funding & Investors: $60 million Series C from Novo Holdings and HealthQuad.
Why they stand out: Deployed in 80+ countries; approved by WHO for AI tuberculosis screening at scale.
Next moves: Expanding into oncology imaging and AI quality control for hospitals.
9. 23andMe (USA) – “Genomics meets everyday health”
What they do: Direct-to-consumer genetic testing covering ancestry and health risk assessment.
Founders: Anne Wojcicki, Linda Avey, and Paul Cusenza.
Funding & Investors: $900 million+ raised from Sequoia Capital, GV, and New Enterprise Associates.
Why they stand out: Bridging consumer genetics and clinical diagnostics — their datasets power drug discovery for partners like GSK.
Next moves: Expanding into clinical diagnostic partnerships and pharma co-development.
10. LetsGetChecked (Ireland/USA) – “At-home testing made mainstream”
What they do: Delivers at-home testing kits for STDs, thyroid, cholesterol, and fertility — with lab processing and tele-consultations.
Founder: Peter Fitzgerald.
Funding & Investors: $270 million from Insight Partners, Oak HC/FT, and Optum Ventures.
Why they stand out: Combines consumer accessibility with clinical credibility — a rare balance in tele-diagnostics.
Next moves: Integrating AI-based result interpretation and expanding pharmacy partnerships across Europe.
How to Identify the Right Diagnostic Partner
- Technology readiness: Do they rely on AI, cloud, or proprietary wet-lab tech? Avoid those still dependent on outsourced processing.
- Clinical validation: Peer-reviewed data and FDA or CE mark approvals speak louder than prototypes.
- Operational scale: Labs that can process thousands daily and still maintain precision stand apart.
- Integration capability: Modern labs must plug into EHR systems, insurance workflows, and consumer apps seamlessly.
- Funding stability: Strong investor backing and sustainable business models ensure continuity and compliance.
Final Thoughts
Diagnostics is no longer just about detecting disease — it’s about anticipating it. From AI-powered imaging to genetic insight and remote testing, these companies are bringing precision and accessibility together at an unprecedented pace.
At McArrows, we work with such healthcare innovators to amplify their product reach, optimize their growth funnels, and position them as global leaders in medical innovation. If your lab or healthtech startup is ready to scale, expand to new markets, or build a strong brand story, we help you bridge funding momentum with growth execution — turning data into diagnosis and innovation into impact.
— McArrows
